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Macro Report_Vietnam’s economy 01/2023

01/02/2023

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1/ IIP PLUMMETED IN JANUARY
The Lunar New Year took place in January with the number of working days only about 2/3 of normal months, causing the industrial production index in January to plummet by 14.6%mom and 8%yoy. In addition, the decrease in the number and size of orders was also a significant factor for the decline of IIP in January.
2/ INFLATION PRESSURE STAYS DUE TO THE LUNAR NEW YEAR
Core inflation in January increased by 0.46% over the previous month and by 5.21% over the same period last year.
In addition to the education group that maintained a high level compared to the same period last year after stopping the tuition fee exemption and reduction policy after the Covid epidemic, the demand increased for items serving the Lunar New Year such as cigarettes, beer, consumer goods and services and tourism were the main reasons for the higher CPI this month.

3/ EXPORT-IMPORT TURNOVER DECREASES- TRADE SURPLUS CONTINUES
4/ ATTRACT 1.69 BILLION USD NEW FDI IN JANUARY
5/ DOMESTIC CONSUMPTION CONTINUED HIKING

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